If the deceased person is an account holder of a joint savings or transaction account (excluding loans and credit cards), the funds in the account generally will not form part of the Deceased Estate, and when this is the case the joint account holder will usually be able to continue to operate the account. The deceased person’s name will be removed from the account once we receive the Death Certificate.
Once notified of the death of a customer our Deceased Estate team will forward a letter to the executor of the estate outlining the steps necessary to finalise the accounts. The letter will make note of any direct credits and/or debits currently active on the solely held accounts that will need to be redirected or cancelled by contacting the supplier.
While direct credits made to the account will continue to be accepted, direct debits will be rejected. We recommend that the suppliers are contacted as soon as possible to avoid any lapse in payments. Jointly held accounts will remain unchanged allowing both direct credits and debits to continue uninterrupted, however some suppliers may need to contacted to update the account details. Any suppliers that need to update details will be noted on the letter received by the joint holder.